100 STAT. 2616 -,
PUBLIC LAW 99-514—OCT. 22, 1986 t
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70 percent or more of the families have income which is 80 percent or less of the statewide median family income. "(B) DATA USED.—The determination under subparagraph (A) shall be made on the basis of the most recent decennial census for which data are available. "(3) AREA OF CHRONIC ECONOMIC DISTRESS.—
"(A) IN GENERAL.—For purposes of paragraph (1), the term 'area of chronic economic distress' means an area of -- ' chronic economic distress— -' "(i) designated by the State as meeting the standards established by the State for purposes of this subsection, '•'•* -'* " and "(ii) the designation of which has been approved by ^the Secretary and the Secretary of Housing and Urban •^ Development. "(B) CRITERIA TO BE USED IN APPROVING STATE DESIGNA-
TIONS.—The criteria used by the Secretary and the Secretary of Housing and Urban Development in evaluating any proposed designation of an area for purposes of this subsection shall be— "(i) the condition of the housing stock, including the age of the housing and the number of abandoned and substandard residential units, "(ii) the need of area residents for owner-financing 'I; under this section, as indicated by low per capita
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income, a high percentage of families in poverty, a high number of welfare recipients, and high unemployment rates, "(iii) the potential for use of owner-financing under „' ' this section to improve housing conditions in the area, ' '• and "(iv) the existence of a housing assistance plan which ' ' " • provides a displacement program and a public improvements and services program, "(k) OTHER DEFINITIONS AND SPECIAL RULES.—For purposes of this section— "(1) MORTGAGE.—The term 'mortgage' means any ownerfinancing. ,, .j,
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"(2) STATISTICAL AREA.—
"(A) IN GENERAL.—The term 'statistical area' means— "(i) a metropolitan statistical area, and "(ii) any county (or the portion thereof) which is not within a metropolitan statistical area. "(B) METROPOLITAN STATISTICAL AREA.—The term 'metropolitan statistical area' includes the area defined as such by the Secretary of Commerce. "(C) DESIGNATION WHERE ADEQUATE STATISTICAL INFORMATION NOT AVAILABLE.—For purposes of this paragraph, if
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there is insufficient recent statistical information with respect to a county (or portion thereof) described in subparagraph (A)(ii), the Secretary may substitute for such county (or portion thereof) another area for which there is sufficient recent statistical information. "(D) DESIGNATION WHERE NO COUNTY.—In the case of any portion of a State which is not within a county, subparagraphs (A)(ii) and (C) shall be applied by substituting for
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